Earnings release
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1 Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 Press Release The Indel B BoD approves the consolidated half-year report as at 30 June 2026 Positive performance in the “core” Automotive and Leisure markets Favourable outlook confirmed for the medium to long term • Consolidated income: Euro 118.2 million, up 9.4% on the Euro 108.1 million of H1 2025; • EBITDA: Euro 12.5 million, down 54.1% on the Euro 27.2 million of H1 2025 with an impact of 10.5% on turnover; • Adjusted EBITDA 1: Euro 13.8 million, +1.6% vs Euro 13.5 million of H1 2025; • EBIT: Euro 7 .8 million, down 67.2% on the Euro 23.7 million of H1 2025, with an impact of 6.6% on turnover; • Adjusted EBIT: Euro 9.1 million (-10.0%) vs Euro 10.1 million of H1 2025; • Net profit: Euro 5.1 million vs Euro 20.4 million of H1 2025, with an impact of 4.3% on turnover; • Net financial position as at 30 June 2026 negative for Euro 19.1 million, as compared with Euro -17.1 million as at 31 December 2025 and Euro -28.0 million as at 30 June 2025. Sant’Agata Feltria (Rimini), 11 September 2026 – Indel B S.p.A. – a company listed on the Borsa Italiana EXM and parent of a group that operates in the manufacture of cooling systems for mobile and mobile living for the automotive, hospitality and leisure time (pleasure boats and recreational vehicles) markets - reports that the Board of Directors met today and approved the consolidated half-year report as at 30 June 2026. Luca Bora – Managing Director of Indel B – comments: “The first half closed with revenue in line with our expectations, despite the progressive det erioration in the geopolitical environment, which continued to weigh on consumer confidence, particularly in certain markets, including Leisure. This performance confirms the validity of the actions undertaken by the Company and the effectiveness of the diversification of our business activities, which enabled us to offset the contraction in demand in the markets most affected through growth and resilience in our other business segments. However, the persistence of this scenario led to a further shift in th e sales mix towards the Automotive sector and, in particular, the OE channel, with a consequent negative impact on margins. We nevertheless take confidence from the Group’s solid financial and capital position, which remains stable thanks to its consistent cash generation. Despite a complex geopolitical environment characterised by a high degree of uncertainty, we believe that the Group’s structure and business diversification enable us to navigate the current market environment with resilience and continue to seize the opportunities that arise.” 1 Total Adjusted revenues and income, EBITDA, Adjusted EBITDA, Adjusted operating profit and Adjusted profit for the year are n ot accounting measures under the IFRS and therefore should not be considered as substitute measures to those provided by the Company's financial statements for the purpose of assessing the Group's economic performance
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Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 2 Results of the first half of 2026 In the first six months of 2026, the Indel B Group recorded sales revenues of Euro 118.2 million, an increase (9.4%) compared to the same period in 2025 (Euro 108.1 million). Revenues from sales by market (In thousands of Euro) H1 2026 % H1 2025 % Change % change Automotive 71,711 62% 65,696 62% 6,015 9.2% Leisure 17,224 15% 11,331 11% 5,894 52.0% Components & Spare parts 13,525 12% 12,692 12% 833 6.6% Hospitality 8,506 7% 9,248 9% -742 -8.0% Cooling Appl. 5,105 4% 6,182 6% -1,078 -17.4% REVENUE FROM PRODUCT SALES 116,071 100% 105,149 100% 10,922 10.4% Sundry revenues 1,289 1% 1,224 1% 65 5.3% SALES REVENUES 117,360 99% 106,373 98% 10,987 10.3% Other income 859 1% 1,703 2% -844 -49.6% TOTAL INCOME 118,219 100% 108,076 100% 10,143 9.4% In greater detail: The Automotive market, the Indel B Group’s largest market, which over the past two years had been affected by the downturn in both the European and US markets, reversed t he trend, recording an increase of 9.2%, with revenue of Euro 71.7 million compared with Euro 65.7 million in the same period of 2025. The Leisure market grew significantly, supported, from 1 July 2025, by the contribution of Indel Marine and Indel B USA, with revenue increasing from Euro 11.3 million in the first half of 2025 to Euro 17.2 million in the first half of 2026, an increase of 52.0%. This increase was attributable to both Marine products (+49.4%) and RV products (+55.9%). In the first half of 20 26, revenue from the Hospitality market amounted to Euro 8.5 million ( -8.0%), compared with Euro 9.2 million in the same period of 2025. The Hotel and Cruise sectors recorded decreases of 8.7% and 5.8%, respectively. The Cooling Appliances market also contracted, by 17.4%, with revenue amounting to Euro 5.1 million, reflecting declines in both the Professional sector, relating to milk cooler orders ( -11.9%), and the Home sector, relating to wine cellars (-34.4%). The Component & Spare Parts market performed positively, with an increase of 6.6%, driven mainly by good sales performance in both components and spare parts within the Autoclima Group. Breakdown by geographical area At a geographical level, the Company’s international vocation is confirmed, with over 75% of the Group’s “Sales revenues” generated outside Italy and around 18% outside Europe. The most significant increases were recorded in Europe and North America, mainly thanks to the contribution, from 1 July 2025, of Indel Marine and Indel B USA. In Europe (excluding Italy), sales revenue increased by 15.8%, from Euro 57.3 million in the first half of 2025 to Euro 66.4 million in the same period of 2026, mainly in the Automotive market, thanks to the strong performance of sales of climate-control products by the Autoclima Group, as well as the first signs of recovery
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3 Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 in Truck sales. The Leisure sector also performed well, supported by the contribution of Indel Marine, which was acquired in mid -2025. On a like -for-like basis, the increase in “Revenue from product sales” in Europe (excluding Italy) would have amounted to Euro 5,008 thousand (+8.7%). In the Americas, sales revenue increased by 15.6%, from Euro 15.4 million in the first half of 2025 to Euro 17.8 million in the same period of 2026, thanks to the contribution, from 1 July 2025, of Indel B USA’s sales in the Leisure market and, in particular, in the Marine sector, which contributed Euro 3,9 million. Italy recorded a limited decrease ( -4.8%), with sales revenue falling from Euro 30.0 milli on in the first half of 2025 to Euro 28.6 million in the same period of 2026, mainly attributable to the Cooling Appliances market, which recorded a contraction in both the Professional and Home sectors. The Rest of the World recorded an increase of 37.6%, with revenue amounting to Euro 3.3 million, mainly due to the positive performance of the Leisure market, supported by sales in Oceania by Indel Marine, which was acquired in mid-2025. EBITDA EBITDA decreased from Euro 27.2 million in the first half o f 2025 to Euro 12.5 million in the first half of 2026 ( - 54.1%), with an EBITDA margin of 10.5%. The change mainly reflects the recognition, in the first half of 2025, of non -recurring income of Euro 13,995 thousand arising from the fair value remeasurement of the 50% interest already held by the Group in Indel Webasto Marine S.r.l. This remeasurement was carried out in accordance with IFRS 3 following the aforementioned acquisition of the remaining 50% interest in the company. Adjusted EBITDA , net of non -recurring items, amounted to Euro 13.8 million (+1.6%) compared to Euro 13.5 million in the six months ended 30 June 2025 and with an impact on Adjusted Total Revenues of 11.6% (12.5% in the first half of 2025). The sales mix and the increase in logistics costs had a negative impact on percentage margins, with the latter also being driven by the effects of the conflict between the United States and Iran. EBIT In the period under review, EBIT amounted to Euro 7.8 million, a decline of -67.2% compared to Eu ro 23.7 million in the six months ended 30 June 2025. The EBIT Margin is 6.6% in H1 2026 compared to 21.9% in H1 2025. Adjusted EBIT , excluding non -recurring items, amounted to Euro 9.1 million in the first half of 2026, down 10.0% compared with Euro 10.1 million in the first half of 2025. The Adjusted EBIT Margin decreased from 9.3% in the first half of 2025 to 7.7% in the first half of 2026. Group net result The Group closed the first half of 2026 with a Net profit of Euro 5.1 million, compared to Euro 20.4 million as at 30 June 2025, and a ratio of 4.3% (18.8% in the first half of 2025) to Total Revenues. Adjusted profit for the period , excluding non -recurring items, amounted to Euro 6.1 million for the six months ended 30 June 2026, compared with Euro 6.6 million in the same period of 2025, representing 5.2% of Adjusted Total Revenue (6.1% in the first half of 2025). Net financial position
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Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 4 The Net Financial Position as at 30 June 2026 was negative for Euro 19.1 million, compared with a negative value of Euro 17.1 million at 31 December 2025 and Euro 28.0 million at 30 June 2025. The change compared with the figure at 31 December 2025 mainly reflects the use of new financing facilities of approximately Euro 4 million to cover the cash outflow of approximately Euro 3.3 million for the payment of a dividend of Euro 0.60 per share in June 2026, as well as Capex investments of approximately Euro 1.7 million. Business Outlook Despite the ongoing conflict in Ukraine, tensions in the Middle East and t he broader environment of geopolitical uncertainty, further exacerbated by relations between the United States and Iran and by the tariff policies adopted by the US administration, inflationary conditions in the main Western economies remain broadly stable, although a moderate increase is expected in the coming months. Against this backdrop, the Group’s financial and capital strength, together with its ability to consistently generate cash flows, provides resilience and enables it to navigate the current pe riod of uncertainty without any material areas of concern having emerged at present. The second half of 2026 will continue to be characterised by volatility and uncertainty at global level. Nevertheless, we maintain a positive medium - to long-term outlook, supported both by expectations regarding developments in our target markets and by the strategic initiatives being pursued by the Group. In particular, we will continue to invest in the development of the Automotive, Hospitality and Cooling Appliances mar kets, with the aim of further strengthening our positioning and capturing growth opportunities. Against this backdrop, we will continue to closely monitor developments in the macroeconomic environment and demand, maintaining a flexible approach and adjusting the measures already taken where necessary. Our priority will remain to support business development, preserve profitability and maintain a sound financial position. We start from a position of strength, characterised by a low level of indebtedness and a strong cash - generating capacity across the Group companies. These factors, together with the diversification of our activities and the strength of our financial structure, enable us to face the challenges of the current environment with confidence and continue along our path of sustainable growth. * * * “The Manager appointed to prepare the Company accounting documents, Mirco Manganello, declares in accordance with paragraph 2, Article 154 -bis of the Consolidated Finance Act that the accounting disclos ure contained in this press release coincides with the results of the documents, books and accounting entries.” * * * This press release is available from the Investor Relations section of the Company website www.indelbgroup.com. In compliance with the provisions of Consob’s Issuers’ Regulation, please note that the half -year report as at 30 June 2026 will be made available to the public at the company offices, at Borsa Italiana S.p.A, on the website www.indelbgroup.com, within the legal terms, in the section "Investor Relations/Financial Statements and Reports" and at the storage mechanism “1Info”, available for consultation at www.1info.it. * * * This press release may contain forward -looking information on future Indel B S.p.A. events and results, based on the current expectations, estimates and projections of the industry in which Indel B works, on events and on the
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5 Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 management’s current views. By nature, these elements have a component of risk and uncertainty because they depend on the occurrence of future events and on a multiplicity of factors, many of which are beyond the Group's control, including global macroeconomic conditions, changes in business conditions, further deterioration of markets, the impact of competition, political, economic and regulatory developments in Italy. * * * CONFERENCE CALL On 11 September 2026, at 3:00pm CET (3:00pm GMT) (10:00am EST), Indel B will hold a conference with the financial community, during which the Group's economic -financial results for the first half of 2026 will be discussed. You can connect via video-conference at the following link: https://www.c-meeting.com/web3/join/XY29P7FMXZP7EB Connect by dialling: Italy +39 02 8020911 / UK +44 121 2818004 / USA +1 718 7058796 / USA Green number: +1 8552656958. Before the telephone conference, the presentation slides can be downloaded from the Investor Relations page of the Indel B website http://www.indelbgroup.com/en/presentations * * * Indel B S.p.A. is a Company listed on the EXM segment of Borsa Italiana (the Italian Stock Exchange) and is controlled by AMP.FIN S.r.l., in turn held entirely by the Berloni family. Indel B S.p.A. heads an important Group that operates worldwide and that has been active for the last 50 years in the mobile cooling sector applicable to the “Automotive” and “Leisure time” segments, and in the cooling sector in the “Hospitality” segment. The Group a lso operates in mobile climate control sector, with specific reference to the Automotive market, represented by commercial vehicles, minibuses, ambulances, agricultural and earth-moving machinery, and in the “Cooling Appliances” sector, which mainly comprises cellars for storing wine and small refrigerators for storing milk. The company has a market cap of approximately Euro 112 million. Contact details INDEL B Financial Controller & IR Elisabetta Benazzi +39 0541 848 784 elisabetta.benazzi@indelb.com POLYTEMS HIR IR and Financial Disclosures Bianca Fersini Mastelloni +39 06.69923324; +39 336742488 b.fersini@polytemshir.it POLYTEMS HIR Media Relations Paolo Santagostino +39 349 3856585 p.santagostino@polytemshir.it Roberta Mazzeo + 39 3455988195 r.mazzeo@polytemshir.it
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Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 6 Consolidated income statement (In thousands of Euro) 30/06/2026 % 30/06/2025 % Income 117,360 99.3% 106,373 98.4% Other revenues and income 859 0.7% 1,703 1.6% Total revenues 118,219 100.0% 108,076 100.0% Purchases and consumption of raw materials, semi-finished and finished products (63,372) -53.6% (58,903) -54.5% Costs for services (17,645) -14.9% (13,609) -12.6% Payroll costs (24,458) -20.7% (22,095) -20.4% Other operating costs (702) -0.6% (1,084) -1.0% Share of net profit of investments accounted for using the equity method 429 0.4% 799 0.7% Capital gain - 0.0% 13,995 12.9% Amortization, provisions and depreciations (4,688) -4.0% (3,465) -3.2% EBIT 7,783 6.6% 23,714 21.9% Financial income 259 0.2% 45 0.0% Financial costs (730) -0.6% (793) -0.7% Income from (expense on) equity investments - 0.0% - 0.0% Pre-tax result 7,313 6.2% 22,967 21.3% Income taxes (2,200) -1.9% (2,609) -2.4% Period result 5,113 4.3% 20,358 18.8% Minority profit (loss) for the period 126 0.1% (56) -0.1% Group period result 4,987 4.2% 20,414 18.9%
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7 Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 Consolidated Statement of Financial Position (In thousands of Euro) 30/06/2026 31/12/2025 ASSETS Non-current assets Goodwill 18,337 18,337 Other intangible assets 25,845 26,570 Tangible assets 46,602 47,596 Right of use 3,680 3,467 Equity investments measured using the equity method 2,300 1,709 Other investments 67 67 Non-current financial assets 12 12 Other receivables and non-current assets 882 847 Deferred tax assets 1,987 1,444 Total non-current assets 99,712 100,049 Current assets Inventories 72,714 62,168 Trade receivables 56,343 41,211 Available liquidity and equivalents 21,839 29,430 Income tax receivables 456 815 Current financial assets 8 16 Derivative financial instruments - - Other receivables and current assets 4,332 3,576 Available-for-sale assets - - Total current assets 155,692 137,216 TOTAL ASSETS 255,404 237,266 SHAREHOLDERS’ EQUITY AND LIABILITIES Shareholders' equity Share capital 5,842 5,842 Reserves 130,310 112,577 Period result 4,987 20,407 Total shareholders' equity 141,139 138,827 Net minority interest Minority interests in capital share and reserves 688 722 Minority interests period result 126 (81) Total net equity of minority interests 814 641 Non-current liabilities Provisions for risks and charges 3,140 2,865 Employee benefits 1,775 1,785 Non-current financial liabilities 20,071 25,736 Deferred tax liabilities 7,286 7,900 Other non-current liabilities 67 65 Total non-current liabilities 32,339 38,351 Current liabilities Provisions for risks and charges - - Trade payables 46,809 27,231 Income tax payables 1,241 384 Current financial liabilities 20,903 20,799 Derivative financial instruments - - Other current liabilities 12,159 11,032 Total current liabilities 81,112 59,446 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 255,404 237,266
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Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 8 Consolidated Statement of Changes in Equity (In thousands of Euro) Share capital Reserves Period result Equity attributable to owners of the parent Net minority interest Total shareholders’ equity As at 01/01/2025 5,842 107,226 10,659 123,727 751 124,478 Allocation of the result of the previous year - 10,659 (10,659) - - - Transactions with shareholders: Distribution of dividends - (4,212) - (4,212) (128) (4,340) Share capital increase - - - - - - Purchase of treasury shares - (156) - (156) - (156) Change in scope of consolidation - - - - - - Total transactions with shareholders - (4,368) - (4,368) (128) (4,496) Comprehensive income for the year: Period result - - 20,414 20,414 (56) 20,359 Actuarial gains/(losses) on employee benefits and provisions for supplementary customer indemnity, after the tax effect - 31 - 31 - 31 Currency translation differences arising from the valuation of equity investments - (367) - (367) 55 (313) Total comprehensive result of the year - (336) 20,414 20,078 (1) 20,076 As at 30/06/2025 5,842 113,181 20,414 139,437 622 140,059 (In thousands of Euro) Share capital Reserves Period result Equity attributable to owners of the parent Net minority interest Total shareholders’ equity As at 01/01/2026 5,842 112,577 20,407 138,827 641 139,468 Allocation of the result of the previous year - 20,407 (20,407) - - - Transactions with shareholders: Distribution of dividends - (3,137) - (3,137) (138) (3,275) Share capital increase - - - - - Purchase of treasury shares - (222) - (222) - (222) Change in scope of consolidation - 13 - 13 173 186 Total transactions with shareholders - (3,346) - (3,346) 35 (3,311) Comprehensive income for the year: - Period result - - 4,987 4,987 126 5,114 Actuarial gains/(losses) on employee benefits and provisions for supplementary customer indemnity, after the tax effect (6) (6) (6) Currency translation differences arising from the valuation of equity investments 678 678 11 688 Total comprehensive result of the year - 672 4,987 5,659 137 5,796 As at 30/06/2026 5,842 130,310 4,987 141,139 814 141,953
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9 Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 Consolidated Statement of Cash Flows (In thousands of Euro) 30/06/2026 30/06/2025 OPERATING ACTIVITIES Pre-tax result 7,313 22,967 Adjustments for: Depreciation/amortisation of tangible and intangible assets 3,990 3,263 Provisions for doubtful debt 282 85 Provisions for risks and charges 512 214 Provisions for obsolete warehouse 503 14 Share of net profit of investments accounted for using the equity method (429) (799) Net financial income / (expenses) 471 747 Gain on the fair value remeasurement of investments in joint ventures - (13,995) Net exchange differences (13) 34 Other non-monetary components - (41) Cash flow from operations before changes to working capital 12,629 12,498 Cash flow generated/(absorbed) by changes in working capital: (7,298) (9,251) - Trade receivables and other assets (15,759) (13,290) - Inventories (11,049) (1,228) - Trade payables and other liabilities 19,510 5,267 Tax paid (1,284) (866) Financial income received 54 - Net financial expenses paid (578) (446) Use of provisions (337) (363) Net exchanges differences realized 26 (149) Cash flow generated/(absorbed) by operations (A) 3,212 1,423 INVESTMENTS Net investments in tangible and intangible assets (1,725) (2,182) Cash flows for the year from acquisitions of subsidiaries (net of cash acquired) - (11,173) Dividends collected 199 222 Cash flow generated/(absorbed) by investments (B) (1,526) (13,133) FINANCING Stipulation of mortgages and loans 4,000 43,800 Repayment of mortgages and loans (10,930) (12,561) Dividends paid (3,275) (4,312) Purchase of treasury shares (222) (156) Changes in liabilities for right of use (538) (378) Other changes in financial assets 465 37 Other changes in financial liabilities 1,177 927 Cash flow generated/(absorbed) by financing (C) (9,324) 27,357 Increase/(decrease) in available liquidity (A)+(B)+(C) (7,638) 15,647 Available liquidity and equivalents at FY open 29,430 16,234 Net effect of the conversion of cash and equivalents carried in foreign currencies 46 (149) Available liquidity and equivalents at FY close 21,839 31,732
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Indel B Spa – Registered Office and Corporate Headquarters Via Sarsinate, 27 – 47866 Sant’Agata Feltria (RN) Italy Tel. +39 0541 848711 – Fax +39 0541 848741 - info@indelb.com – www.indelbgroup.com Share capital Euro 5,842,000 fully paid-up – Economic and Administrative Index (REA) RN – 312757 – Companies Register VAT no./Tax Code 02037650419 – Code of International Standard Organization Code IT02037650419 10 The Group uses some alternative performance indicators that are not identified as accounting measures under the scope of the IFRSs to allow for a better assessment of Group performance. Therefore, the determination criterion applied by the Group may not be th e same as the criterion adopted by other groups and the balance obtained may not be comparable with the result obtained by them. These alternative performance indicators, determined in compliance with the provisions of the Guidelines to alternative performance indicators issued by ESMA/2015/1415 and adopted by CONSOB by communication no. 92543 of 03 December 2015 only refer to the performance of the accounting period concerned by this press release and the periods provided by way of comparison. The Group uses the following alternative performance indicators to assess economic performance: EBITDA, EBITDA Margin, Adjust ed EBITDA, Adjusted EBITDA Margin, Adjusted EBIT, Adjusted period result. Starting 01 January 2019, IFRS 16 is applied, which requires companies to book the right of use of leased assets and the rela ted liability corresponding to the obligation to make lease payments. These assets and liabilities deriving from the lease contracts are va lued at current value. The effects of the new standard on the income statement are immaterial.